Tilray (NASDAQ: TLRY) announced that its subsidiary Tilray Portugal Unipessoal Lda received a standard manufacturing license and a Good Manufacturing Practices (GMP) certification for its Biocant Park manufacturing facility in Cantanhede, Portugal.
The license and certification allow Tilray Portugal to manufacture and export GMP-certified dried cannabis as an active substance for medicinal products.
Tilray’s EU Campus
Tilray’s EU Campus in Portugal is a multi-faceted production facility that includes indoor, outdoor and greenhouse cultivation sites; research and quality control labs as well as processing, packaging and distribution sites for medical cannabis and cannabinoid-containing medical products.
The company has invested approximately €20 million in the facility, which totals nearly 250,000 square feet with additional room to expand. The site also serves as a hub supporting Tilray’s clinical research and product development efforts across Europe.
The EU Campus currently employs over 100 people, and that number is expected to double by the end of 2019, with production ramping up and multiple harvests anticipated in the coming months.
International Markets
Tilray has established sales and distribution arrangements to supply medical cannabis through major pharmaceutical distribution channels throughout Germany and the European Union.
The license and certification will boost Tilray’s capacity to serve international markets such as Germany and other EU member states, as well as none-EU jurisdictions that recognize EU GMP certification.
“This licensing and certification marks a critical milestone for our growth in Portugal and Europe. We’re proud to increase our international export capacity and are looking forward to exporting dried cannabis as active substances from our EU Campus to legal jurisdictions in the EU and other international markets,” Sascha Mielcarek, managing director of Europe, stated.
Tilray expects the second phase of GMP certification for its facility in Portugal to occur in the coming months, which will allow the company to manufacture and export GMP-certified finished medicinal products from Portugal to international markets.
“The next phase of GMP certification will allow us to utilize the full capacity of our multi-faceted facility and continue to serve more patients in-need,” Mielcarek noted.
